Frequently Asked Questions

How do I get funds for the upcoming academic year?
As you research financial aid options, please know that your credit union is once again here to help. Because you are a returning borrower, you can simply draw funds from your existing line of credit by clicking here, indicating that you are a Returning Borrower, and then following these instructions: (no need to complete an entirely new application)*

• To request additional funds, simply select “Draw Request” from the menu on the right.  

• Next, click on “Select” from the Approved Loan Application. Verify that your contact information is valid.  To make changes, click on “Edit Information;” if no changes are needed, click on “Confirm.”  

• Enter the Draw Request Amount and then select the corresponding academic year from the Academic Period drop-down menu.

• Click on the In School Repayment Option you desire and then click “Submit.”  

• After clicking on “Submit,” confirmation of your request will appear on screen.  

• Your request will then be sent to your school for certification. Upon certification, the funds will be disbursed directly to the school on a date specified by the school.

*Subject to credit qualification and annual credit review.

Scholarships, Grants and Federal Loans
Remember, before utilizing a private student loan we highly recommend that you first exhaust all other sources of lower-cost financial aid, such as scholarships, grants, and federal loans. For more information on all of your financial aid options, click here.  

My co-borrower no longer qualifies for this loan.  What can I do to get the loan again?
You can re-apply for the loan with a different co-borrower.  Call the Student Choice call center to inquire about underwriting criteria.

I no longer qualify for this loan.  What options do I have for funding 2010-2011?
If you no longer qualify for the loan, you should speak directly with your school’s financial aid office.  They will offer additional education funding guidance to you and your family.

I am transferring to a different school.  Can I still get this loan?
If you are transferring to a new college, you will need to first confirm that the school is approved for funding per our approved school list.  If the school you are transferring to is approved, you may contact our call center to be guided through the application process.

How long does the process take from draw request to disbursement?
During peak loan season (July through September), please allow 20 business days from the time you submit your completed loan documents. Though your loan may be processed, it is up to the school to “certify” your loan. Certification involves selecting a disbursement date and loan amount for your loan. The school has the final say on when your loan disburses and in what amount. During non-peak season, please allow 7 to 10 business days from the time your completed loan application has been submitted.

Can I have the funds sent directly to me?
No. Our loans are disbursed directly to your school. Each school processes refunds differently. If you need funding for miscellaneous expenses such as off-campus housing, please check with your school to find out their specific procedure for refund issuance.  

I requested more money than I received in a disbursement. Why didn’t I get my full requested amount?
Though you requested a particular loan amount, your school might have certified your loan for a lesser amount. The process of school certification allows your college to have control over your loan amount and when the loan funds (disbursement date). School certification involves the college in the borrowing process for its students, thereby ensuring that students are managing their educational debt wisely.

I requested my draw late and my school has a due date for funding that I cannot meet. What can I do to avoid late fees?
If you requested your draw late, please let your financial aid office and your bursar’s office know that you have been approved for a loan. If the school requires proof that you are approved for the loan, ask the financial aid office which documents will suffice for proof that the loan is in-process. After speaking with the financial aid office, contact your bursar to inquire how they manage late fees and if they can be waived.

I want to change my repayment option while I am still enrolled in school. How can I make that change happen?
To change your repayment option, please contact the loan servicer, University Accounting Service (UAS), directly at 800-723-2210. Changes to repayment options can only be made once per academic year.

How can I set up automatic debit for my loan payments?
To establish automatic debit for your student loan payments, please contact the loan servicer, University Accounting Service (UAS), at 800-723-2210.  

What happens if I am late making a payment?
The lender will assess a late fee if your payment is not made timely.  You can pay your bill safely and securely online through the loan servicer’s website:  https://www.uasecho.com/

I need to update my contact information.  How can I do that?
Contact the loan servicer (University Accounting Service) by calling 800-723-2210 or visiting them online. Also, please call the Student Choice call center to provide your updated information.

How do I make loan payments?

• To make payments online, register at https://www.uasecho.com/

• To make payments by mail:  University Accounting Service, P.O. Box 6491, Carol Stream, IL 60197-6491

What are my repayment options?
You may choose to make interest-only payments while in-school or defer both principal and interest payments until six-months after graduation.

What is my interest rate?
Register at https://www.uasecho.com/ to access line-of-credit information online or call University Accounting Service at 800-723-2210.

What will my payment be?
Register at https://www.uasecho.com/ to access line-of-credit information online or call University Accounting Service at 800-723-2210.

When is payment due?
Register at https://www.uasecho.com/ to access line-of-credit information online or call University Accounting Service at 800-723-2210.

I have questions about my (UAS) statement.  Who do I contact?
Call University Accounting Service at 800-723-2210

How can I lower (or cancel) my request?
Depending on the timing of your request, we may be able to accommodate your request. Please call the Student Choice call center to discuss your options. When necessary, we may have you contact the Financial Aid Office at your school.